There is a new app that can help users build credit from everyday expenses. 22-year-old Michael Brougthon is a CEO and co-founder of Perch Credit, a free mobile app that allows users to utilize common expenses like rent and Hulu payments to build credit.

When Broughton was a college student, he realized how tricky the United States credit system could be. His experience with credit inspired him to create the Perch Credit app, hoping to make the experience of others less frustrating. Before starting his first semester at USC, he was informed that he was $10,000 short on his tuition. His family had no way to cover the costs and they had never had more than $3-4k in their family bank account at one time. His only option was to take out a loan, but he was getting denied due to lack of existing credit history.

Broughton began doing some research on how to make building credit easier by utilizing common expenses that everyone uses instead of requiring people to go into further debt.

In January 2021, Brougton launched Perch Credit. The app is completely free and allows users to utilize rent payments or subscriptions such as Netflix, Hulu, and Spotify to build credit. The company holds a mission to help 100,000 people build their credit in 2021. He hopes that users will feel a sense of financial empowerment by utilizing the Perch app. In addition to credit building, the app also provides financial literacy for users.

Signing up is completely free and does not affect your current credit score. Visit https://getperch.app for more information!